Ask Question
BusinessBusiness
22 July, 23:44

Regional Investment Corporation (RIC) hires Sam, a real estate agent, to locate investment properties for RIC. Sam learns of a warehouse available for $100,000, buys it himself, and offers it to RIC for $200,000. Most likely, Sam

a. breached the agent's fiduciary duties to the principal.

b. did nothing wrong.

c. failed to take advantage of a business opportunity.

d. set an unreasonable price based on current market value.

+3
Answers (1)
  1. 22 July, 23:53
    0
    A) breached the agent's fiduciary duties to the principal.

    Explanation:

    To be more specific, Sam broke the agent's the duty of loyalty towards the principal. An agent must act in the best interest of the principal, not on his own best interest. The agent is getting paid for performing a task on behalf of the principal, and by taking advantage of his position, the agent has clearly breached his contract with the principal. Therefore, the principal can sue the agent and recover for damages (tort suit).
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Regional Investment Corporation (RIC) hires Sam, a real estate agent, to locate investment properties for RIC. Sam learns of a warehouse ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Subcontracting refers to the practice of: Multiple Choice an organization hiring a contractor to perform a task it has been doing in house. an organization hiring substitute labor to cover for a supplier's labor shortage.
Answers (1)
For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the "None" option under the "Demand Determinant" column.
No Answers
Where do you put a threaded bobbin and where does the thread from the bobbin go when the machine is in use?
Answers (1)
Swift Company manufactures two different bicycle models. Swift produces a high volume of products using standardized production runs and does very little product customization. Swift uses what type of technology structure?
Answers (1)
True/False "The objective of the economic order quantity model is to reduce total inventory costs by minimizing carrying costs and ordering costs"
Answers (1)
New Questions in Business
Zappos, the online shoe and clothing marketer, promises free shipping and free returns on any of its products, no questions asked. This is an example of how Zappos has a strong competitive advantage through
Answers (1)
Based on the corporate valuation model, the total corporate value of chen lin inc. is $900 million. its balance sheet shows $110 million in notes payable, $90 million in long-term debt, $20 million in preferred stock, $140 million in retained
Answers (1)
Larry's lizards and ronaldo's reptiles are competing pet store franchises. both are considering opening a store in the small town of turtleville.
Answers (1)
How does the government of a republic typically shape its economy? A. The government allows citizens to own private businesses. B. The government blocks the ownership of personal property. C. The government owns all homes and other forms of housing.
Answers (1)
For a business credit card, most companies that issue credit, including Visa and Mastercard, specifically state their liability policies: Only cover the first $50.
Answers (1)
Home » Business » Regional Investment Corporation (RIC) hires Sam, a real estate agent, to locate investment properties for RIC. Sam learns of a warehouse available for $100,000, buys it himself, and offers it to RIC for $200,000. Most likely, Sam a.
Sign Up Forgot Password?